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Report: Life of Crumbling Foundations Insurer Could Be Extended

January 8, 2020 | Reprints | Unlock Link | Print

The Connecticut Foundation Solutions Indemnity Co., or CFSIC, may be about to get an infusion of cash from the state, but its future beyond 2022 remains uncertain.

According to CTNewsJunkie, however, legislators concerned about the issue are planning to meet soon to strategize a way forward.

To date, over 1,000 homeowners and condominium associations have filed claims with CFSIC, but the number of homeowners with foundations damaged by the iron sulfide pyrrhotite will be could be over 30,000, according to some estimates. CFSIC has struggled with on-again-off-again funding to help homeowners make repairs, and has only so far been able to help between 150 and 200 homeowners.